Nb5Si3, Nb5Si3-ITO, and Si3N4 layers are all deposited by magnetron sputtering technique on Al to obtain Nb5Si3-ITO-based solar selective coating. The structure, composition, and morphology of the Nb5Si3-ITO core layer have been studied by the means of X-ray diffraction, X-ray photoelectron spectroscopy, and scanning electronic microscopy. The solar absorptance (alpha) and thermal emittance (epsilon) of the solar selective coating have been investigated by UV/VIS/NIR spectrophotometry. The solar absorptance of Al/Nb5Si3/Nb5Si3-ITO/Si3N4 coating with 15 at.% ITO in Nb5Si3-ITO layer is 88.98% as deposited and 85.78% after annealed at 500 degrees C for 40 h in air. To further improve its solar absorptance and thermal stability, metal Mo deposited on stainless steel substrate is introduced as an IR-reflective metallic layer beneath the Nb5Si3/Nb5Si3-ITO/Si3N4 layers. Eventually, the SS/Mo/Nb5Si3/Nb5Si3-ITO/Si3N4 coating exhibits solar absorptance of 93.06% and thermal emittance of 8.8% as deposited and the optical performance remains nearly the same after annealed at 500 degrees C for 120 h in air. This technique has been successfully transferred to industrial application. In addition, the optical performance and thermal stability of the SS/Mo/Nb5Si3/Nb5Si3-ITO/Si3N4 solar selective absorbing coating have been certified by Solartechnik Prufung Forschung.